Sunday - 26Aug2012 - The Looming US of A Fiscal Cliff Crisis!

On January 1, 2013 — just 127 days from today — more than $1.6 trillion will be sucked out of the U.S. economy. Some of the largest tax hikes in history PLUS the largest spending cuts Washington has ever seen will take effect on New Years’ Day.

The US of A will stand at the brink of a fiscal cliff so huge that it threatens to crush our economy ... leave the stock market a smoking ruin ... cause our already-high unemployment rate to explode higher ... and drive millions of Americans into poverty.

This is not merely my prediction.

The International Monetary Fund, the U.S. Congressional Budget Office, the Federal Reserve, the U.S. Department of Defense, JPMorgan Chase, Bank of America, and Goldman Sachs ...
Plus armies of U.S. senators and congresspeople in both major parties ... and many leading economists all UNANIMOUSLY agree that this crisis could destroy what’s left of the economic “recovery” and even plunge America into a Great Depression.

So far, the hopelessly deadlocked US of A Congress has failed to develop a plan to avert this crisis. They haven’t even started.

But even if they are able to delay some of the spending cuts and tax hikes, there’s a third shoe to fall they cannot avert:

Nearly $1 TRILLION per year in fiscal and monetary stimulus — money that has kept the economy from collapsing since 2009 — will END.

Well! What do You Think!